HBK Sorce Advisory LLC Invests $648,000 in United Rentals, Inc. $URI

HBK Sorce Advisory LLC acquired a new stake in United Rentals, Inc. (NYSE:URI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 558 shares of the construction company’s stock, valued at approximately $648,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of URI. Core Wealth Advisors LLC bought a new position in shares of United Rentals during the fourth quarter worth about $28,000. MV Capital Management Inc. bought a new stake in United Rentals in the fourth quarter valued at approximately $28,000. Laurel Wealth Advisors LLC acquired a new stake in United Rentals during the 4th quarter valued at approximately $32,000. Hilton Head Capital Partners LLC acquired a new stake in United Rentals during the 4th quarter valued at approximately $34,000. Finally, Frazier Financial Advisors LLC raised its holdings in United Rentals by 33.3% during the 1st quarter. Frazier Financial Advisors LLC now owns 56 shares of the construction company’s stock worth $41,000 after purchasing an additional 14 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

United Rentals Stock Performance

URI opened at $1,166.11 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The company’s fifty day moving average price is $1,096.63 and its two-hundred day moving average price is $942.44. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18. The company has a market cap of $72.58 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.49 and a beta of 1.80.

United Rentals (NYSE:URI) last announced its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, beating the consensus estimate of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $10.47 EPS. On average, analysts expect that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.

United Rentals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a $1.97 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is 18.92%.

Analysts Set New Price Targets

URI has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Barclays increased their price objective on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. Robert W. Baird set a $1,300.00 target price on shares of United Rentals in a research note on Friday, July 24th. UBS Group boosted their target price on shares of United Rentals from $1,300.00 to $1,350.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, KeyCorp reaffirmed an “overweight” rating and set a $1,350.00 price target on shares of United Rentals in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,246.19.

Insider Activity at United Rentals

In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the transaction, the executive vice president owned 6,062 shares of the company’s stock, valued at $6,869,155.30. This trade represents a 19.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.